Question: Hi! I wasn't too sure how to answer this question, I got a graph on my scratch paper but I wanted to make sure I
Hi! I wasn't too sure how to answer this question, I got a graph on my scratch paper but I wanted to make sure I did it correctly.


Budget Constraints 1. Charlie faces the following marginal tax rates on his gross earnings: [4 pts] Table 1: Marginal Tax Rates Marginal Tax Rate Gross Earnings 10% $15, 000 20% $15,001 - $40,000 25% $40,001 - $90,000 30% $90,001 - $200,000 35% $200,001 - $450,000 40% $450,001 + Before taxes, Charlie earns a gross wage of $7.50 per hour. He also receives non-labor income of $5,000 per year. Suppose Charlie has 5,000 available hours to split between work and leisure during the year. Draw his budget set in the plot below.
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